Talcott Resolution Life Insurance Company

About Talcott Resolution Life Insurance Company

Talcott Resolution Life Insurance Company was established in 1902 as Hartford Life Insurance Company. In 2018, the company was sold to investors and Talcott Resolution became its own independent life insurance company.

The global investment firm Sixth Street acquired Talcott Resolution Life in June of 2021 for an undisclosed price. Since then, Talcott has primarily acted as a reinsurer for other annuity providers.

On Dec. 30, 2021, Talcott completed an agreement with Allianz Life to reinsure $20 billion in fixed index annuities. In October of 2022, Guardian Life Insurance announced that Talcott Resolution would reinsure roughly $7.4 billion in variable annuity benefits, with the deal expected to close by the end of the year.

Credit Ratings

Credit ratings give consumers an idea of the overall financial stability of an annuity provider. The independent agencies that issue these ratings protect consumers by helping them understand how safe their investment is with a certain annuity provider.

The better the company’s rating, the more likely they can fulfill their end of annuity contracts. Talcott Resolution has received ratings from three of the four biggest credit rating agencies: AM Best, Moody’s and Standard & Poor’s.

Talcott Resolution Credit Ratings

Talcott Resolution Products

Talcott Resolution does not currently sell annuity products. The types of annuities once offered by the company included variable annuities, fixed annuities and fixed index annuities.

Variable Annuities

Variable annuities are one type of product that Talcott Resolution provided. These products carry a medium amount of risk and reward.

When you purchase a variable annuity, your premium goes into an investment portfolio. Your portfolio can include stocks, bonds, mutual funds or other products. The amount of income you receive from the variable annuity will depend on the performance of your investment portfolio.

Though variable annuities carry some risk of lower growth, most annuity providers will at least guarantee that you will receive a return of your premium, so you won’t lose your initial investment. Some companies will also let you invest part of your annuity’s value into a fixed interest account that is not tied to market performance.

Variable annuities are designed for those who are willing to assume a bit more risk in exchange for greater potential returns. Experts usually recommend this annuity product to younger investors who have more time to recover from market fluctuations.

Fixed Annuities

Talcott Resolution also offered fixed annuities. Fixed annuities are considered the safest annuity option. Because there is no market exposure, the growth of the contract’s value and the amount of the payments you’ll receive is predictable.

A fixed annuity grows in value according to an interest rate that’s locked in when you sign the annuity contract. After a specified number of years, the annuity matures, and the contract’s value is converted to a stream of income payments.

Fixed annuities are best for conservative investors who want to grow their savings and have access to a steady stream of income in retirement. People who are closer to retirement might consider purchasing a fixed annuity because of its security and stability.

Fixed Index Annuities

The third type of annuity once offered by Talcott Resolution is fixed index annuities. Also known as an indexed annuity, this product combines features of fixed and variable annuities.

Fixed index annuities grow in value based on two interest rates. The annuity contract has a guaranteed minimum interest rate, so your premium will see a certain amount of growth each year. On top of this, the annuity also grows with an interest rate that’s tied to a stock market index.

This hybrid design of fixed index annuities provides a medium amount of market exposure. There’s potential to benefit from equity market gains, but you still have protection against low growth years if the market takes a downturn.

Client Resources

Talcott Resolution’s website features an Annuity Resources page for current clients. Annuity contract holders can access regulatory documents and fund performance reports to make decisions about their annuity contracts.

Customers can also download a few commonly used forms related to annuity contracts, including:

Talcott Resolution Annuity Forms

• Annuitization Option
• Annuity Beneficiary Change Request
• Automatic Income Program Enrollment
• Federal and State Tax Withholding Notice
• Internet or Telephone Redemption Enrollment
• Required Minimum Distribution
• Third Party Authorization
• Trustee Certification

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